Business Insider has confirmed that David Puth — head of Global Markets at State Street — is out at the firm.
Reached by phone, Puth said he wasn’t laid off but was “leaving State Street.” He didn’t specify the nature of his departure, but Business Insider has reached out to State Street for more details.
A source at the firm says Mike Rogers, who is current head of global services for the Americas, will be replacing Puth.
State Street has already consolidated its global services and global markets businesses under one leader in its Europe and Asia operations, a person familiar with the company told Business Insider.
Puth took his current position at State Street in 2008, according to Forbes. Before that, he was president of a risk management agency he founded, and has also worked at JP Morgan.
Last year, State Street announced that they planned on cutting 1,400 jobs by the end of 2011, but a company spokesperson said that Puth’s departure had nothing to do with those job cuts.
Puth’s profile on the list of executive leaders for State Street is already gone, and leads to an empty page. Good luck, Mr. Puth.
UPDATE: We received the statement below from State Street —
David Puth has decided to leave State Street after three years heading our Global Markets business. Mike Rogers, executive vice president and head of Global Services Americas, will assume leadership of State Street’s Global Markets business in addition to his current responsibilities. Mike is a 30 year industry veteran who led Investor Financial’s capital markets businesses prior to its acquisition by State Street in 2007.